WEST SUSSEX - PROFITABLE PUB CLOSE TO MAJOR HOUSING DEVELOPMENT
Rusper, Horsham, West Sussex
Ref: 45829
£795,000
Freehold
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Key Features
Precis
A well-presented character free house with great potential to increase trade from 10,000 new homes being built nearby.
Location
The Lamb Inn is situated in the hamlet of Lambs Green, close to the village of Rusper in the Horsham District of West Sussex. It lies approximately 3 miles west of Crawley and 4 miles north east of Horsham. This picturesque area of West Sussex is a popular residence for those working in and around London Gatwick Airport as well as the City of London. The area is undergoing vast amounts of residential development on the fringes of the major towns including a soon to be constructed 10,000 home scheme situated in nearby Ifield.
Lambs Green is easily accessed via the A24 and M23 which provide fast road access to the M25. Mainline railway services are available from Crawley with Thameslink services to Brighton, London Bridge and Kings Cross. Furthermore additional services are available from Horsham to Portsmouth Harbour, Southampton Central and London Victoria (via Gatwick Airport). Gatwick Airport lies a mere 5 miles from Lambs Green.
The Lamb occupies a character two-storey character detached public house of brick construction under a pitched tile roof with single storey extensions to the rear. The property has been well invested in during its current occupation and is presented to a high standard throughout. Despite the charm and style of the property it is not a listed building.
Lambs Green is easily accessed via the A24 and M23 which provide fast road access to the M25. Mainline railway services are available from Crawley with Thameslink services to Brighton, London Bridge and Kings Cross. Furthermore additional services are available from Horsham to Portsmouth Harbour, Southampton Central and London Victoria (via Gatwick Airport). Gatwick Airport lies a mere 5 miles from Lambs Green.
The Lamb occupies a character two-storey character detached public house of brick construction under a pitched tile roof with single storey extensions to the rear. The property has been well invested in during its current occupation and is presented to a high standard throughout. Despite the charm and style of the property it is not a listed building.
Property
TRADE AREAS
Entrance from front of property via porch into MAIN BAR and DINING AREA. This split level trade space is presented with a combination of stone effect and oak stripped wood flooring, exposed brickwork and ironwork. The trade space centres around a wood built bar servery housing a double drinks fridge, drinks fridge, glasswasher and coffee machine and grinder. The bar also houses two feature log burners which are very popular during the winter months. The various trade areas provide a combined seating capacity of 60 covers.
Offset are GENTLEMANS WC’s and LADIES WC’s.
Leading through the property is access to a WASH UP AREA with commercial pass through washer. Offset is the TRADE KITCHEN equipped with a range of commercial kitchen units, two extractors, two six burner range cookers and a chargrill. Offset is a waiter area.
To the rear of the property is a staff WC, bottle store with ice machine, walk-in chiller, walk-in freezer and dry store with decarbonizer.
OWNERS ACCOMMODATION
First Floor
Comprises LOUNGE, TWO DOUBLE BEDROOMS, OFFICE, KITCHEN, BATHROOM and UTILITY ROOM.
Second Floor
A further DOUBLE BEDROOM with en suite shower room.
EXTERNAL
To the side of the property there is a large gravelled CAR PARK with space for 20-30 vehicles.
To the opposing side there is an enclosed TRADE PATIO which has been extensively refurbished to the tune of £85,000 which incorporates sail covers, halogen heaters, log burner and seating for 35-40. This area also includes a SHOW KITCHEN WITH PIZZA STATION, under counter fridges and wood fired pizza oven.
To the rear of the property there is a TRADE YARD and PRIVATE GARDEN.
Entrance from front of property via porch into MAIN BAR and DINING AREA. This split level trade space is presented with a combination of stone effect and oak stripped wood flooring, exposed brickwork and ironwork. The trade space centres around a wood built bar servery housing a double drinks fridge, drinks fridge, glasswasher and coffee machine and grinder. The bar also houses two feature log burners which are very popular during the winter months. The various trade areas provide a combined seating capacity of 60 covers.
Offset are GENTLEMANS WC’s and LADIES WC’s.
Leading through the property is access to a WASH UP AREA with commercial pass through washer. Offset is the TRADE KITCHEN equipped with a range of commercial kitchen units, two extractors, two six burner range cookers and a chargrill. Offset is a waiter area.
To the rear of the property is a staff WC, bottle store with ice machine, walk-in chiller, walk-in freezer and dry store with decarbonizer.
OWNERS ACCOMMODATION
First Floor
Comprises LOUNGE, TWO DOUBLE BEDROOMS, OFFICE, KITCHEN, BATHROOM and UTILITY ROOM.
Second Floor
A further DOUBLE BEDROOM with en suite shower room.
EXTERNAL
To the side of the property there is a large gravelled CAR PARK with space for 20-30 vehicles.
To the opposing side there is an enclosed TRADE PATIO which has been extensively refurbished to the tune of £85,000 which incorporates sail covers, halogen heaters, log burner and seating for 35-40. This area also includes a SHOW KITCHEN WITH PIZZA STATION, under counter fridges and wood fired pizza oven.
To the rear of the property there is a TRADE YARD and PRIVATE GARDEN.
The Business
Our clients have owned and operated the Lamb Inn for a number of years and during this time have taken a run of the mill village pub and transformed it into a destination food led business which also benefits from a core local drinking trade.
Trade profit and loss accounts for year ending March 2020 show a net turnover of £436,757, which is split approximately 42% to wet sales and 58% to dry sales. This is turn generates a strong gross profit of 62.7% and an adjusted net profit of £80,008. It is our understanding that a full years trade prior to Covid restrictions generated a net turnover in the region of £460,000. Further accounting details will be made available to serious parties following a formal viewing.
We of the opinion that the Lamb Inn would suit a hands on owner/operator who could continue to drive the business by sourcing additional income from the large number of developments in the area.
The business could suit a regional multiple operator with an established management style to instil.
Trade profit and loss accounts for year ending March 2020 show a net turnover of £436,757, which is split approximately 42% to wet sales and 58% to dry sales. This is turn generates a strong gross profit of 62.7% and an adjusted net profit of £80,008. It is our understanding that a full years trade prior to Covid restrictions generated a net turnover in the region of £460,000. Further accounting details will be made available to serious parties following a formal viewing.
We of the opinion that the Lamb Inn would suit a hands on owner/operator who could continue to drive the business by sourcing additional income from the large number of developments in the area.
The business could suit a regional multiple operator with an established management style to instil.
Tenure
FREEHOLD £795,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
or
LEASEHOLD £80,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
Our client will consider the creation of a new full repairing and insuring lease agreement for a term of up to 7 years. The lease will be assignable and fall within the security provisions of Landlord & Tenant Act 1954. Annual rent £45,000 + VAT paid monthly in advance. A rental deposit equivalent to three months rent will be due, plus personal guarantors if the lease is taken as a Limited Company. The lease will be free of all trade ties.
All negotiations subject to covenant strength.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
or
LEASEHOLD £80,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
Our client will consider the creation of a new full repairing and insuring lease agreement for a term of up to 7 years. The lease will be assignable and fall within the security provisions of Landlord & Tenant Act 1954. Annual rent £45,000 + VAT paid monthly in advance. A rental deposit equivalent to three months rent will be due, plus personal guarantors if the lease is taken as a Limited Company. The lease will be free of all trade ties.
All negotiations subject to covenant strength.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Licence
A full Premises Licence is held.
Services
Mains water and electricity.
Drainage via Klargester.
Central heating via oil.
Fuel via LPG
Rateable Value: £39,800
Local Authority: Horsham District Council
Drainage via Klargester.
Central heating via oil.
Fuel via LPG
Rateable Value: £39,800
Local Authority: Horsham District Council
Enquire about this listing
Robert Cockayne
South East & London
